The past 24 hours, actually closer to about 14 hours, has been quite the rollercoaster ride. Last night we heard that Sprint was pulling out of bidding on T-Mobile USA. We also heard that Dan Hesse was stepping down and now Marcelo Claure is going to be the new CEO as of August 11th. Claure had a few interesting statements in the press release from Sprint announcing that he'll be the new President and CEO.
"While consolidating makes sense in the long-term, for now, we will focus on growing and repositioning Sprint," he said Sprint's press release this morning. Which I think is where Sprint and Claure should be focused on. As Sprint has been losing customers left and right over the past few quarters. They really need to add some more customers, to bring in some more revenue so they can invest in their network. We don't really need to keep stating the issues with their network, but we all know there are plenty of issues with Sprint's network, especially in terms of speed.
As far as salary goes, Marcelo Claure is going to be making a base salary of $1.5 million, on top of an annual cash bonus equivalent to 250% of the base salary in the current financial year. The figure will drop to 200% in the 2015 financial year. His package also includes a $500,000 signing bonus and various longer term incentives. This is much lower than what Dan Hesse received this year as Sprint's CEO. Where he was given a salary worth about $49 million in 2013. He was mostly criticized because he's making money hand over fist, but the company was losing money.
So it's a new beginning for Sprint, well not completely. But now they've got new leadership, so let's see what Claure can do with the Now Network in the next few years. Especially after he cleans up the previous two CEO's mess over at Sprint. How many of you are interested in what Marcelo Claure is going to do at Sprint in the coming years? Let us know in the comments below.